EU Countries - Individually

The EU countries are: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK. The European Union consists of 28 member states. Each member state is party to the founding treaties of the union and thereby subject to the privileges and obligations of membership. Areas: 4,381,376 km2 (1,691,659 sq mi), Number of countries: 28 (as of 2018) of which 21 Republics and 7 Monarchies. The internal market is an area of prosperity and freedom, giving 500 million Europeans access to goods, services, jobs, business opportunities and the cultural richness of 28 Member States. While extra-EU exports were historically higher than those of the USA or of China, extra-EU imports replaced those of the USA as number one in 2008 and could keep their leading position until today. No surprise that the EU became the largest export market for China and the EU is the second largest supplier of the Chinese economy. In turn, China clearly leads the list of extra-EU imports and ranks second in extra-EU exports. EU-China trade volume is only slightly less than that of EU-US trade.

Austria offers foreign investors a wide range of business opportunities including funding and financial support measures for small and medium-sized enterprises, research and development, company startups, investments and new technologies.

These extend from cash grants and preferential rates of interest to the provision of guarantees. This exceptionally extensive offering enables companies to take advantage of funding and support programs tailored to their specific requirements.

Austria is the 31st largest export economy in the world. In 2016, Austria exported $146B and imported $162B, resulting in a negative trade balance of $16.5B. In 2016 the GDP of Austria was $390B and its GDP per capita was $50.6k

The most important sectors of Austria’s economy in 2016 were wholesale and retail trade, transport, accommodation and food services (22.9 %), industry (21.6 %) and public administration, defence, education, human health and social work activities (17.5 %).

Intra-EU trade accounts for 71% of Austria’s exports (Germany 30%, Italy 6%, and Slovakia 4%), while outside the EU 6% go to the United States and 5% to Switzerland.

In terms of imports, 78% come from EU Member States (Germany 43%, Italy 6% and Czech Republic 4%), while outside the EU 6% come from Switzerland and 3% from China.

The leading Belgian sectors for U.S. exports and investments are (by alphabetical order): Information & Communication Technologies, Medical Devices, Power Generation Equipment, Safety & Security, Smart Grids, and Travel & Tourism. As the host of NATO and EU headquarters, and hundreds of other international organizations, Belgium also offers opportunities for specific projects.

Belgium’s central location in the wealthiest region of Europe makes it an ideal gateway for exports to Europe. Within a radius of 300 miles, 140 million EU consumers can be reached representing 60% of Europe’s purchasing power.

As raw materials and natural resources are not sufficient, the balance of trade is usually towards imports and thus there is always some trade deficit in Belgium.

According to the 2009 estimates, Belgium had an export volume of $296.1 billion and ranked 13th in the world. This, however, showed a tremendous drop from the 2008 figures, which shone bright at $371.5 billion. The most important sectors of Belgium’s economy in 2016 were public administration, defence, education, human health and social work activities (22.5 %), wholesale and retail trade, transport, accommodation and food services (19.5 %) and industry (16.7 %).

Intra-EU trade accounts for 72% of Belgium’s exports (Germany 17%, France 15% and the Netherlands 11%), while outside the EU 6% go to the United States and 2% to both India and China.

In terms of imports, 63% come from EU Member States (the Netherlands 16%, Germany 13% and France 9%), while outside the EU 8% come from the United States and 4% from China.

Bulgaria offers from a business opportunitie point of view:

- Well-educated, young, multilingual labor force
- One of the lowest wage rates in the EU
- Convenient geographic location
- Simplified registration process for new businesses providing a minimum initial capital and a time frame of up to 2 weeks
- Low corporate taxes
- Incentives for investment in certain sectors such as computer technologies, research and development, manufacturing, etc.
- EU membership provides Structural and Cohesion Funds financing opportunities to all qualified U.S. companies, including SMEs

The most important sectors of Bulgaria’s economy in 2016 were industry (23.8 %), wholesale and retail trade, transport, accommodation and food services (22.2 %) and public administration, defence, education, human health and social work activities (14.1 %). Intra-EU trade accounts for 68% of Bulgaria’s exports (Germany 14%, Italy 9% and Romania 9%), while outside the EU 8% go to Turkey and 2% to China. In terms of imports, 67% come from EU Member States (Germany 13%, Italy 8% and Romania 7%), while outside the EU 9% come from Russia and 6% from Turkey.

Total EU spending in Bulgaria: € 2.345 billion while total Bulgarian contribution to the EU budget: € 0.382 billion. Bulgaria receives therefore around € 2.1 billion net in the from of EU spending in the country.

Total Dutch contribution to the EU budget is € 4.343 billion while total EU spending in the Netherlands is € 2.289 billion. The Netherlands contributes therefore around € 2.1 billion net to the EU budget

The most important sectors of the Netherlands’ economy in 2016 were public administration, defence, education, human health and social work activities (21.4 %), wholesale and retail trade, transport, accommodation and food services (21.2 %) and industry (15.2 %).

Intra-EU trade accounts for 76% of the Netherlands’ exports (Germany 24%, Belgium 11% and United Kingdom 9%), while outside the EU 4% go to the United States and 2% to China.

In terms of imports, 47% come from EU Member States (Germany 15%, Belgium 8% and United Kingdom 5%), while outside the EU 14% come from China and 8% from the United States.

Brexit? Disaster or opportunity!

The thread of a Brexit requires you to act in order to preserve and expand your current business. Whatever your reasoning maybe, a Brexit (we still have to see it may actually happen) is going to have a negative effect on companies business in the UK in the remaining EU and possibly in international areas. If only for the fact that the UK market, export opportunities into Europe, will become instantly smaller with many more restrictions, difficulties such as customs etc. to carry out a company's business and will, of course, cause a reduction in business, profits and returns. The same applies to EU companies that are currently heavily depending upon exporting and importing goods from the UK. Trump is promising a closer trade-connection with the UK when they are out of the EU, but what can Trump offer in addition to what he is offering now? Is he suddenly going to buy more soja beans (back) from the UK? Of course not. He can only offer reduced rates but more imports from the UK into the US would dilute his own market again. Brexit would mean an enormous destruction of capital, goodwill, that has been created over the years that the EU-UK relationship was built. There is only one alternative left for both companies in the UK and the EU and that is to seek new markets. For the EU this could also mean to find new potential countries that could join the EU. For the UK the Commonwealth, particularly India, probably means the best opportunity to compensate for the losses through leaving the EU. It is sad to see how Mr. Johnson is using Mrs. May to clean up the mess that he created by his expressed desire to leave the EU. He will introduce himself later after the Brexit of course as the winner, and takes over. We wish Mrs. May well.